The National Association of Independent Life Brokerage Agencies has set up a new errors and omissions arrangement.

Arthur J. Gallagher and Company, Itasca, Ill., will be administering the program, and Clarendon National Insurance Company, Saddle Brook, N.J., will be the underwriter, according to NAILBA, Fairfax, Va.

The E&O insurance will cover the sale and servicing of individual and group life insurance, accident and health insurance, disability insurance, long term care insurance, employee benefit plans, and individual and group retirement plans, NAILBA says.

Agents also can buy coverage for the sale of variable products and mutual funds.